BMEX Announces Private Placement of up to $9,550,000 in Flow-Through Units and Non Flow-Through Units

Vancouver, British Columbia--(Newsfile Corp. - September 4, 2020) -  BMEX Gold Inc. (TSXV: BMEX) ("BMEX" or the "Company") is pleased to announce that it has signed an engagement letter with StephensAvenue Securities Inc. for a brokered private placement of flow-through units and non-flow-through units of the Company (together, the "Offering") for gross proceeds of up to $9,550,000. The Offering will consist of up to 6,666,666 flow-through units (the "FT Units") at a price of $0.5325 per FT Unit for gross flow-through proceeds of up to $3,550,000, and up to 20,000,000 non-flow-through units (each an "NFT Unit") at a price of $0.30 per NFT Unit for gross proceeds of up to $6,000,000. The Company has entered into an agreement with Peartree Securities Inc. for the purchase and sale of the FT Units on a charity flow-through basis.

Each FT Unit will consist of one flow-through share (a "FT Share") and one-half of one share purchase warrant. Each full warrant (a "Warrant") will entitle the holder to acquire one additional common share of the Company at a price of $0.50 per share for a period of 18 months from closing of the Offering. Each NFT Unit will be sold at $0.30 per Unit and will consist of one common share and one-half of one Warrant, on the same terms as the Warrants sold as part of the FT Units.

StephensAvenue Securities Inc. will receive a cash commission of 7%, and Broker's Warrants of the Company equal to 7% of the number of FT Units and NFT Units sold under the Offering. The Broker's Warrants will be exercisable into common shares at $0.30 for one year. All securities issued pursuant to the Offering are subject to a hold period expiring four months from the date of issuance. Proceeds from the financing will be used to explore the Company's recently acquired King Tut and Dunlop Bay projects located in Quebec, Canada and for general working capital.

The Offering is subject to the approval of the TSX Venture Exchange, and standard closing conditions for a brokered offering.

About BMEX Gold Inc.

BMEX Gold Inc. is a junior Canadian mining exploration company with the primary objective to acquire, explore, and develop viable gold and base metal projects in the mining-friendly jurisdictions of Quebec, Canada. BMEX is currently fully focused on its two projects:

  • King Tut Project is a wholly owned project that consists of 120 contiguous claims on 5206 hectares
  • Dunlop Bay Project is a wholly owned project that consists of 76 mineral claims that cover 4,226 hectares.

BMEX common shares trade under the symbol "BMEX" on the TSX-V and under the symbol 8M0 on the Frankfurt Exchange.

Contact Details:

Peartree Securities Inc

110 Eglington Avenue West, Suite 400. Toronto Ontario M4R 1A3

T 416 613 3848 F 647 436 7460

Email: info@peartreecanada.com

Contact Details:

StephenAvenue Securities Inc.

402- 217 Queen St. W.; Toronto Ontario M5V 0R2

Tel 416 479 4478 Toll Free 1 844 540 2018

Fax 416 866 4141

Email: mcappuccitti@stephenavenue.com

On behalf of the Board of Directors, BMEX Gold Inc.

Amrik Virk

Chief Executive Officer/Director
Contact Information -
For more information, please contact: Amrik Virk

Tel: (604) 423-4499

Email: info@Bmexgold.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/63297

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